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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ortonville, Business Loans > Cenbank Ortonville Business Loans > Baked Goods Stores Loan | ||||
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Cenbank
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SBA Loan from Cenbank Helps Baked Goods Stores CompanyCenbank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in Ortonville, Minnesota was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cenbank, operating out of Ortonville, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: BAKED GOODS STORES SBA Loan Lender CENBANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445291 - Baked Goods Stores Loan Approval Date 6/8/2004 Loan Approval Gross Amount $123,000 Loan Approval from the SBA Of the total $123,000 loan amount, the SBA guaranteed $104,550. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Where to Get an SBA Loan in Ortonville, Minnesota
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